Fireworks explode over the Los Angeles Memorial Coliseum during the 2015 Special Olympics World Games Opening Ceremony, July 25, 2015 in Los Angeles, California. Los Angeles is opening a bid for the 2024 Olympics
ROBYN BECK/AFP/Getty Images

Mayor Eric Garcetti says the city is prepared to cover any cost overrun or revenue shortfall if Los Angeles is chosen to host the 2024 Olympics, as Los Angeles inches closer to becoming the U.S.’s nominee to host the event.

Guests:

Andrew Zimbalist, Professor of Economics at Smith College and author of the new book, “Circus Maximus: The Economic Gamble Behind Hosting the Olympics and the World Cup” (Brookings Institution Press, 2015)